- According to Transparency Market Research’s latest research report on the global photonic integrated circuits (PIC) market for the historical period 2017–2019 and the forecast period 2021–2031, usage of photonic integrated circuits (PIC) in biophotonics, sensing, and optical communication sectors, and increasing application of photonic integrated circuits (PIC) in long-haul & transport networks and FTTx & access networks are factors expected to boost the global photonic integrated circuits (PIC) market during the forecast period
- In terms of revenue, the global photonic integrated circuits (PIC) market is estimated to exceed the value of US$ 7.6 Bn by 2031, expanding at a CAGR of ~23% during the forecast period
Proliferation of Advanced Electronics in Various Industries: A Key Driver of Photonic Integrated Circuits (PIC) Market
- Photonic integrated circuits can be designed on different platforms; however, a direct band gap semiconductor is required for effective on-chip light formation. Traditionally, the first photonics integrated circuit with lasers were realized on InP or GaAs substrates.
- Heterogeneous silicon technology is used to produce commercial products for the data center segment and is being distributed in volume
- Heterogeneous silicon technology has the capability to implement multiple die bonding, and it can be optimized epitaxially to ensure high-performance of photonic integrated circuits for both, sensing and communications
- Hence, this bonding enables effective electrically pumped light formation on silicon and resolves the main issue in realizing more complex integrated photonic circuits using CMOS processes. The impact of this driver is expected to be high during the forecast period.
- Thus, demand for photonic integrated circuits (PIC) is estimated to increase over the next few years, and major players in the photonic integrated circuits (PIC) market are utilizing the economies of scale to meet the rising demand
- However, along with the advantages of superior bandwidth and fast communication, photonics do pose some serious concerns relating to designing and modeling of the PICs. Chip size and design complications relate to layout, error checking, and circuit modeling, and also in implementing design automation, as integration of photonic circuits and components into their electronic counterparts do not comply with the standard Electronic Design Automation (EDA) flows reliably or effectively. This is expected to restrain the growth of the photonic integrated circuits (PIC) market during the forecast period.
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Increasing Consumer Demand for High Speed Communication
- Emergence of data center cloud interconnection services, ultra-bandwidth video services, and 5G mobile network services are expected to stimulate the development of optical transport network technology
- Growing demand for such services is driving the use of photonic integrated circuits for communication systems
- Integration of optical components and functions into a large-scale PIC shows significant benefits when it is integrated into an optical communication system. PICs remove the limitation of optical component complexity, and allow the right engineering balance to be chosen.
- Photonic integrated circuits help to meet the increasing demand for communication systems for the Internet, which is growing ~40% per year globally. This growth is driven mainly by increasing video traffic in the Internet network.
- The growth is now further accelerated by mobile access, with video calls on all smartphones and tablets enabling video to be consumed more conveniently via network connections anywhere and anytime. The impact of this driver is expected to be high during the forecast period.
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Photonic Integrated Circuits (PIC) Market: Competition Landscape
- Detailed profiles of providers of photonic integrated circuits (PIC) have been provided in the report to evaluate their financials, key product offerings, recent developments, and strategies
- Key players operating in the global photonic integrated circuits (PIC) market are
- Agilent Technologies
- Broadcom
- Ciena Corporation
- Enablence
- II-VI Inc.
- Hewlett Packard
- Huawei Technologies Co., Ltd.
- Infinera Corporation
- Intel Corporation
- Broadex Technologies Co., Ltd.
- Cisco Systems, Inc.
- MACOM
- Mellanox Technologies
- NeoPhotonics Corporation
- Oclaro, Inc.
- TE Connectivity
- Uniphase Inc.
- VLC Photonics S.L.
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